The easy answer for “why” you would develop a new strategic plan is to establish a clear path and renewed priorities for your leadership team and staff. You need to get everyone on the same page again and going in the same direction. A solid plan simplifies decision making and drives alignment of all resources. Digging a little deeper you might find other reasons for why you need to build a new strategic plan.
The phrase, “time flies when you’re having fun,” comes to mind when thinking about a solid corporate strategy. The opposite might be true too, however. Time flies when you’re hard at work and your departments are scrambling to keep up or “get things done.” Whatever the case might be for you, there is a great chance that examining whether your strategic plan is working well will be a positive for your organization.
You will likely see that your organization has succeeded on achieving many of your goals. That is the good news. You might also see that your team has fallen short on many of the objectives. Depending on the reasons, this might be positive but often it can show a lack of focus or unattainable goals. Keep in mind, this could also be caused by the global pandemic which shifted resources, greatly reduced time spent on organizational projects, and potentially depleted the organization’s financial reserves.
A full examination of your plan will show where the gaps are for your business. An assessment will help you decide whether your organization needs new direction, additional help, or whether you are on track but need new goals to stay on course.
Could you imagine going tent camping with your family for the first time without a plan? Where will you go? What will the temperature be? What will you sleep on? What will you eat? Will a hike be involved? The questions can go on and on. Without a plan your family will be cold (or hot) during the day and potentially more miserable at night. They might get hungry because you did not remember to grab something to cook on or cook with. Hopefully, you brought water to drink! And what about smores?
This simple illustration hopefully provides a good picture of what could go wrong while camping, but more importantly what could go wrong for your organization without a solid strategic plan.
A strategic plan for your organization is only as good as the time spent with your team building it and the clear direction or vision provided by your Board of Directors. As you well know, this is no small task. But with the right tools, guidance, and teamwork the process will go well, and you will end up with a great plan with the perfect goals and objectives.
When staffing turnover occurs on a larger scale the timing might be right to adjust and take advantage of building and implementing your new strategy. Leveraging fresh minds and perspectives will help adjust your goals and objectives while also communicating a single message to your new staff and your existing team members. You might also find that building a new team around your new goals will better align your efforts toward success.
Most organizations do not see the opportunities that present themselves when change is occurring. We do know that change is inevitable but are we always seeing the potential for leveraging the change for greater success?
This is a time where an outside perspective might be invaluable. Rather than rehiring quickly without examining new possibilities, take time to evaluate where the business is in relation to your organizational vision. Bring in a consultant who will view things differently. Grow your understanding of where your organization currently stands and how new staff might impact your future. Rebuilding your team with the same positions might negatively impact patient care and hurt your organization financially. In comparison, hiring the right staff to implement a new strategy will positively affect patient care quality while growing financial strength.
Financial strength is always important for the success and growth of any business. In difficult economic times, financial stability might be just what keeps an organization alive and in business. As the healthcare industry continues to shift, your strategic plan must also be adjusted and renewed.
The global pandemic is our current challenge. However, as our world changes and continues to evolve additional challenges lie ahead. This might be a perfect time for your organization to reset and rebuild your organizational strategy around these industry changes. Build into your plan new goals that better align with patient needs while ensuring financial strength. Examine your business internally, but do not forget the external forces that will affect your revenues. There are excellent tools available that your team can use to examine these influences directly. An Accelerated SWOT Analysis is a great example of one of these tools.
For assistance with building a new strategic plan for your organization or utilizing our tools, contact us at 623.980.8018 or by email at email@example.com. We are here for you and happy to help.
Join hundreds of industry leaders and get our perspective on critical issues healthcare organizations face in a demanding environment, delivered to your inbox.
You're almost there!